Rome

Economy minister says 'full' recovery possible in 2013

Saccomanni hopeful recession is waning

Economy minister says 'full' recovery possible in 2013

Rome, July 1 - A full economic recovery could be possible by the fourth quarter of this year, Economy Minister Fabrizio Saccomanni said Monday. In an interview with television station TG4, Saccomanni said that a "full recovery of the economy in the fourth quarter of this year" is possible. The Italian economy, which has been struggling under the weight of its longest recession in more than 20 years, is emerging from the downturn, said Saccomanni. That forecast echoes similar predictions made last week by industrial employers' confederation Confindustria. It said the recession will continue until late this year with "a weak recovery" beginning only in the fourth quarter. Saccomanni also said he hoped a solution to the hated IMU housing tax could be found in the next few weeks. The center-right People of Freedom (PdL) party of ex-premier Silvio Berlusconi has threatened to pull its support from the coalition government if the tax is not rolled back. "If we can resolve (the situation) before August, I for one would be happy," said Saccomanni.

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